Cal Dive Wins Well Intervention Contract from Statoil

Cal Dive's subsidiary, Well Ops (UK) Ltd. has received a letter of intent from Statoil to perform a well intervention program on the Norwegian Continental Shelf during the coming summer. The planned light well intervention campaign using the MSV Seawell is to be pursued on the Statfjord East, Tordis/Vigdis and Gullfaks South fields in the North Sea and Asgard in the Norwegian Sea. The Seawell has been deployed for Statoil on the NCS in prior years, having worked on its Heidrun field in the Norwegian Sea and the Tommeliten development in the North Sea.

Light well intervention involves workovers in which the wireline is run directly into a subsea well without a riser, something required when such activities are carried out from a drilling rig. Performing this program from a vessel is a simpler process and more cost effective than the traditional rig based solution.

Bill Morrice, General Manager of Well Ops (UK) Ltd., stated, "We are honored that Statoil has chosen the Seawell for this important well intervention campaign. Competitive advantages of a purpose built vessel like the Seawell include her ability to mobilize quickly and maximize productive time by completing a broad range of intervention tasks. The Seawell has conducted intervention operations on over 450 North Sea wells to date and we are particularly proud of a safety record in which there were no recordable incidents on the vessel during all of 2003."

Mr. Morrice continued, "Negotiations are underway with Statoil to put a contract in place and to identify the anticipated timing. This scope of work in the Norwegian sector will then provide a framework from which a backlog of projects can be built in the UK sector of the North Sea."